Schlumberger expects double-digit 2014 earnings-per-share growth

Schlumberger stated that it expects 2014 capex to be $3.8 billion in 2014, compared to $3.9 billion in 2013. The effective tax rate for FY2014 is forecast to be in the low to mid 20s. SLB also commented that 2014 EPS (earnings per share) are expected to grow by double digits year-over-year. The company noted that it believes its ability to offer cutting-edge new technology will help it grow earnings faster than oilfield services revenue growth as a whole. Wall Street analysts predict 2014 EPS of roughly $5.70 per share in 2014.

Schlumberger didn’t give further explicit guidance, but it made the following general comments regarding the upcoming periods.

Strong growth is expected in North Iraq over 2014, with flat activity in the South in 1H14.